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The Stability and Growth Pact (SGP) is central to Economic and Monetary Union (EMU) in Europe. Initiated by Germany in 1995 and adopted in 1997, it regulates the fiscal policies of European Union Member States. Following numerous violations of its deficit reference value, the Pact s Excessive Deficit Procedure was suspended in 2003. The decision to suspend was brought before the European Court of Justice in 2004 and the SGP then underwent painstaking reform in 2005. After a period of economic prosperity and falling budgetary deficits, the global economic crisis is putting the system under...

This book examines and compares the two major traditions of thought that have attempted to incorporate institutions within economics. These are the "Old" (or American) Institutionalist tradition of Veblen, Mitchell, Commons and Ayres, and the "New" Institutionalism that has developed more recently from neoclassical and Austrian sources. The discussion is organized around a set of key problems involving the use of formal or nonformal analytical methods, individualist or holistic approaches, the respective roles of rational choice and rule following behavior, the relative importance of...

Quentin Skinner's classic study The Foundations of Modern Political Thought was first published by Cambridge in 1978. This was the first of a series of outstanding publications that have changed forever the way the history of political thought is taught and practised. Rethinking the Foundations of Modern Political Thought looks afresh at the impact of the original work, asks why it still matters, and considers a number of significant agendas that it still inspires. A very distinguished international team of contributors has been assembled, including John Pocock, Richard Tuck and David...